Euronet Worldwide (NASDAQ:EEFT) Stock Crosses Above 200-Day Moving Average – Here’s Why

Euronet Worldwide, Inc. (NASDAQ:EEFT) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $70.33 and traded as high as $70.88. Euronet Worldwide shares last traded at $70.65, with a volume of 980,679 shares.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wolfe Research lowered their price target on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Euronet Worldwide in a research report on Wednesday, October 28th. Stephens reduced their target price on Euronet Worldwide from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings lowered Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC lowered their target price on Euronet Worldwide from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.40.

Euronet Worldwide Trading Down 0.4%

The company has a market cap of $2.70 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.54 and a beta of 0.92. The business has a 50 day simple moving average of $66.55 and a two-hundred day simple moving average of $70.31. The company has a current ratio of 1.42, a quick ratio of 1.37 and a debt-to-equity ratio of 1.31.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Tuesday, October 27th. The business services provider reported $3.55 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.11). The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Euronet Worldwide had a net margin of 6.41% and a return on equity of 27.44%. Euronet Worldwide’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.62 EPS. On average, analysts forecast that Euronet Worldwide, Inc. will post 9.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Euronet Worldwide

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Euronet Worldwide during the 2nd quarter worth approximately $244,726,000. Jupiter Topco LLC acquired a new stake in Euronet Worldwide in the second quarter valued at approximately $98,213,000. Turtle Creek Asset Management Inc. raised its stake in shares of Euronet Worldwide by 44.9% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock valued at $122,588,000 after purchasing an additional 572,194 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Euronet Worldwide during the second quarter worth $23,083,000. Finally, Bank of America Corp DE acquired a new stake in Euronet Worldwide during the 2nd quarter valued at $22,221,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc is a global provider of electronic payment and transaction-processing services. Founded in 1994 and headquartered in Leawood, Kansas, the company serves financial institutions, retailers, mobile network operators, businesses and consumers through operations in markets around the world.

Euronet operates through three principal business segments: electronic financial transactions, epay and money transfer. Its electronic financial transaction business provides automated teller machine (ATM) services, point-of-sale services, card outsourcing, electronic payment processing and related financial technology solutions.